Business
ShawCor Ltd. Announces Fourth Quarter And Full Year 2009 Results
ShawCor Ltd. Announces Fourth Quarter And Full Year 2009 Results
About this update from Mattr Corp
[{"type":"text","content":"\n\n\n\nTORONTO, Mar. 3, 2010 (Canada NewsWire Group) -- /CNW/ --Financial Summary(in thousands of Canadiandollars except per Fourth Quarter Full Yearshare amounts) 2009 2008 2009 2008Restated Restated(note 1) (note 1)-------------------------------------------------------------------------Operating ResultsRevenue $ 260,911 $ 433,853 $1,183,978 $1,379,577EBITDA (note 2) 53,730 98,591 253,799 262,158Operating income fromcontinuing operations 38,591 75,588 192,175 196,011Income from continuingoperations 31,553 56,014 131,106 134,722Income (loss) fromdiscontinued operations (27) 609 344 11,011Net income 31,526 56,623 131,450 145,733Net income per share(Class A and B) - BasicContinuing operations 0.44 0.79 1.86 1.90Discontinued operations - 0.01 - 0.16Total 0.44 0.80 1.86 2.06Net income per share(Class A and B) - DilutedContinuing operations 0.43 0.78 1.85 1.88Discontinued operations - 0.01 - 0.15Total 0.43 0.79 1.85 2.03-------------------------------------------------------------------------Cash FlowCash provided bycontinuing operatingactivities $ 130,737 $ 75,924 $ 287,132 $ 154,361Additions to property,plant and equipment 8,432 27,800 34,358 89,799-------------------------------------------------------------------------Financial PositionWorking capital $ 307,567 $ 229,169Total assets 1,185,977 1,227,289Shareholders' equity pershare (Class A and B)(note 3) $ 11.21 $ 10.40-------------------------------------------------------------------------Note 1: Prior year figures have been restated as a result of the adoptionof recent accounting policy changes and reclassified to conform tocurrent year presentation.Note 2: EBITDA is a non-GAAP measure calculated by adding back to incomefrom continuing operations, the sum of interest (income)/expense, taxesand depreciation/amortization of property, plant and equipment andintangible assets. EBITDA does not have a standardized meaning prescribedby GAAP and is not necessarily comparable to similar measures prescribedby other companies. EBITDA is used by many analysts in the oil and gasindustry as one of several important analytical tools. The following isthe calculation of EBITDA for the periods presented above:Income from continuingoperations $ 31,553 $ 56,014 $ 131,106 $ 134,722Add (deduct):Income taxes 6,276 17,484 56,397 55,878Interest expense - net 762 2,154 4,672 5,659Amortization of prop...